Here are a few components and their roles that aid in the process of Bank Card Processing...
- Cardholder: The consumer making the purchase.
- Merchant: The business accepting the payment.
- POS Terminal/Gateway: The hardware or software capturing payment data.
- Acquiring Bank: The merchant's bank that receives the funds.
- Issuing Bank: The customer's bank that approves or declines the transaction.
- Card Network: Networks like Visa or Mastercard that facilitate the transfer.
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